Trump Media & Technology Group shares jumped more than 9% Wednesday after CEO Devin Nunes sent a letter to allies on Capitol Hill asking them to investigate potential manipulation of the company's stock, reported CNBC.
He said "a thorough and expeditious investigation" of Trump Media & Technology Group, the parent of former President Donald Trump's Truth Social media platform, should include collecting trading data from the Securities and Exchange Commission's massive trading database known as the Consolidated Audit Trail, the Financial Industry Regulatory Authority, and the clearinghouse for U.S. stock trades.
Trump Media went public last month and has experienced many volatile sessions since. It's fallen about 41% in April after rising nearly 10% last week. A spokesman for Citadel Securities, one of the market makes named in Nunes' letter, in a statement said: "Devin Nunes is the proverbial loser who tries to blame 'naked short selling' for his falling stock price.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: NBCLA - 🏆 319. / 59 Read more »
Source: nbcsandiego - 🏆 524. / 51 Read more »
Source: FoxBusiness - 🏆 458. / 53 Read more »